N.C. Pension Plans Billions In Hedge Investments

Feb 7 2012 | 11:18am ET

North Carolina's main state public pension fund is set to add billions of dollars to its hedge fund allocation.

Having won legislative approval to almost double its hedge fund investments last year, the $71.8 billion North Carolina Retirement System is set to take advantage with a series of new searches for credit and equity hedge funds. No requests for proposals will be issued, with managers picked and hired on an "as needed basis," spokeswoman Julia Vail told Pensions & Investments.

The system plans to invest as much as $2 billion in new stock hedge funds over the next three to five years, a 6% allocation. North Carolina will focus on long/short strategies, Vail said.

It will also invest about $360 million in credit funds over the next two years.

North Carolina currently has about $2.44 billion invested in hedge funds, or 3.4% of its assets.

The system is also planning to invest a 2.5% increase in its broadly diversified, non-equity-based hedge fund strategies allocation allowance in private equity.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note